KIEV, Feb. 24 - Russian oil major TNK-BP plans to shut down its Lisichansk Oil Refinery in Ukraine next month because the business has remained unprofitable for the past two years, the company said in a statement Friday.

“It is obvious that the situation will not change in the near future and the oil refining will most likely remain unprofitable,” the company said in the statement. “That’s why the management of TNK-BP has decided to suspend oil deliveries to the refinery and to begin maintenance in March.”